Daily Newsletter Newsletter-Commodity 02/08/2011
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MARKET WRAP Gold rose toward record highs on Monday Weak U.S. manufacturing data boosts gold,silver Copper hit a one-week low on Monday Inventories of copper in LME-registered warehouses at above 466,000 tonnes Crude oil slips sharply below 93$ Gold rose toward record highs on Monday, erasing early losses after data showing a slowdown in U.S. manufacturing activity fed the view that the Federal Reserve might ease monetary policy further to stimulate the economy. Copper hit a one-week low on Monday as disappointing manufacturing data from the United States reinforced fears of weak demand growth from the world's largest economy and as the dollar strengthened. U.S. and Brent crude futures pared gains on Monday after a report showed the Institute for Supply Management's U.S. manufacturing index fell to its lowest since July 2009.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue Aug 2
2:30pm
EUR
PPI m/m
0.1%
-0.2%
6:00pm
USD
Core PCE Price Index m/m
0.2%
0.3%
6:00pm
USD
Personal Spending m/m
0.2%
0.0%
6:00pm
USD
Personal Income m/m
0.3%
0.3%
All Day
USD
Total Vehicle Sales
11.9M
11.5M
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 23950 • R1 - 23670
Resistance
• R2 - 61200 • R1 - 59550
support
• S1 - 23380 • S2 - 23050
support
• S1 - 57670 • S2 - 56500
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 443 • R1 - 436
Resistance
• R2 - 4345 • R1 - 4260
support
• S1 - 427 • S2 - 419
support
• S1 - 4130 • S2 - 4050
NATURALGAS(AUG AUG) Trend Strategy
• Consolidate • Sell on high
LEAD(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 201 •R1 - 193
Resistance
• R2 - 119.8 • R1 - 116.2
support
•S1 -181 •S2 -173
support
• S1 - 113.3 •S2 - 110.5
ZINC(AUG) Trend Strategy
• Consolidate • Buy on dips
NICKEL(AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 113.5 •R1 - 110.6
Resistance
•R2 - 1155 •R1 - 1113
support
•S1 - 108.3 •S2 - 106.5
support
•S1 - 1083 •S2 - 1055
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 118.5 •R1 - 116.2
support
•S1 - 113.5 •S2 - 110.8
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